Selling a House by Owner in Dallas, TX: The Pros & Cons
If you’re looking to sell your Fort Worth Home, then you’re up for a real challenge! Due to the situation surrounding the world right now, the real estate industry is having one of the biggest headaches it’s had in quite a while.
With a bit of planning and preparation, however, you can get your property safely out of your hands without any issue.
The most common decision that many property owners make when selling their property is to delegate the entire process to a real estate agent.
While this may seem the prudent choice, this might prove to be troublesome with all the nuisances brought about by COVID-19. Instead, your best option at the moment is to go for selling a house by owner.
What Is “For Sale By Owner?”
The term “For Sales By Owner” (FSBO) refers to when a particular property is going to be sold by the owner’s own hand instead of having a real estate agent or broker handle the process.
While not a popular choice for busy individuals, those looking for a challenge or those seeking to take a bigger cut of the profits often opt for this option.
Why Should I Go for FSBO?
Understandably, there are numerous issues as to why one would not want to handle the process on their own, chief among which is “I have no idea how to sell a house.”
Despite that trepidation, there are numerous guides pointing out how easy it is to handle this process.
In today’s situation, however, with the rampant fear and anxiety brought by the coronavirus pandemic, it’s simply slim pickings for real estate agents to handle your home.
With the limited amount of resources currently available for your run-of-the-mill broker, you’re better off taking the entire profits handling the sale of your Fort Worth property.
To fully understand the depth of your options, it’s best to look at what’s bad and good about selling a house by owner.
Selling a House by Owner
The ConsCon #1. It’s a tedious process
The biggest consideration that pushes people away from the idea of handling the sale of their property on their own is the tedious process it involves.
Here’s what you will need to do:
- Assess your house – You will have to do a house assessment and find the proper value of your home using your own resources.
- Find a buyer – Once you’ve done that, you’ll have to find a buyer and find a way to talk them into choosing your own.
- Find required documentation – On top of that, you’ll have to find and figure out all the documentation required and make sure everything is filled up.
Yes, it does sound tedious; but thanks to the resources available widely online, it’s just a matter of effort and legwork. Just because you don’t know how to handle it know doesn’t mean you can’t learn it quickly—in a few articles, you’ll know and collate all the necessary documents you need to get the ball rolling.
Once you have all the documents necessary, it actually gets a lot easier to handle from there.
Con #2. It’s hard to find a buyer
Understandably, the next difficulty would be finding a buyer for your home. While this was an incredibly difficult feat way back in earlier years, the prevalence of the internet has actually made marketing a convenient and easy thing to do.
Today—especially with everyone stuck at home surfing the net all day—all you’ll need to do to find potential buyers is to create an online listing for it.
Once you’ve done that, it’s just a matter of waiting to see if someone’s replied! There are multiple platforms available online to post your property—simply do a quick Google search and you’re all set to go.
The ProsPro #1. You get all the money from the sale
The biggest benefit that people get by selling a house by owner is that they won’t need to split the profits with their broker or agent. While it does remain true that agents only take a small percentage from your total sale, that’s still a significant cut from your initial sales price.
By handling the entire process on your own, you will not need to be bothered by that thought at all!
No matter how you decide on the pricing, you won’t have to worry about any cut—thus enabling you to market your house at a decent and fair price.
This, in turn, can make it more attractive to wiser buyers—increasing your chances of making a sale.
Pro #2. You have total control
Aside from not having to split up the profits, many go for the FSBO option in order to have complete control of the entire sales process.
When you have an agent or broker, you have very little autonomy on what’s going on—thus leading to the agent simply delegating some expense tasks to you.
By handling it on your own, you’re the boss of yourself, meaning you get to dictate what goes on and what doesn’t!
This piece of control is much more attractive for the more headstrong individuals, as it allows them to handle the sale by their own effort and time.
Pro #3. You get to sell your house as-is
One major trouble of having a broker is that they’ll often force you to make refurbishments to your home, thus denting the already limited profit you’d make from selling your property.
By handling it on your own, you can sell your house as-is without anyone having to say no.
This ultimately allows you to sell your house without having to wait for the renovations to finish, while simultaneously lessening the blow to your overhead profit.
As such, you actually get to maximize the money you get by going for this option.
Selling a house by owner may not immediately sound like an attractive option; but given the current situation, it might be the most beneficial at the moment.
By trusting in your own skills, you get to maximize profit while getting to handle it all on your own terms. Even better, it’s simply a great achievement to sell a house on your own.
Are you selling a house by owner at Dallas, but don’t know where to start? At Cash Home Buyers, we’ll buy any property in Fort Worth as-is, no matter the condition. Get in touch with us and get a no-obligation offer for your home today!